EXHIBIT 12

SBC COMMUNICATIONS INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Dollars in Millions

	2004		2003		2002		2001		2000
Income Before Income Taxes, Extraordinary Items
and Cumulative Effect of Accounting Changes*	$	6,623	$	7,751	$	8,685	$	9,984	$	11,923
Add: Interest Expense		1,023		1,242		1,382		1,599		1,592
Dividends on Preferred Securities		24		22		24		57		118
1/3 Rental Expense		160		140		195		266		252
Adjusted Earnings	$	7,830	$	9,155	$	10,286	$	11,906	$	13,885
Total Interest Charges	$	1,054	$	1,279	$	1,440	$	1,718	$	1,693
Dividends on Preferred Securities		24		22		24		57		118
1/3 Rental Expense		160		140		195		266		252
Adjusted Fixed Charges	$	1,238	$	1,441	$	1,659	$	2,041	$	2,063
Ratio of Earnings to Fixed Charges		6.32		6.35		6.20		5.83		6.73

* All periods presented exclude undistributed earnings on investments accounted for under the equity method as well as "Income From Discontinued Operations, net of tax" in our Consolidated Statements of Income, which was from the sale of our interest in the directory advertising business in Illinois and northwest Indiana.